Farmers' complaints during the post-Civil War period included all of the following except
(a) High railroad rates
(b) A worsening of the terms of trade between the prices of farm goods and the prices of manufactured articles
(c) The fact that national banks were not allowed to accept farm mortgages as loan collateral
(d) There is no "except"; all of the above were complaints of the farmers
(d)
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Which of the following statements is true?
A) Firms usually tend to lay off workers than cut wages to reduce costs. B) Firms tend to increase wages in periods of contracting economic activity to boost morale. C) Firms tend to decrease wages in periods of contracting economic activity to boost labor productivity. D) Firms usually tend to cut wages than lay off people to cut costs.
If a person withdraws $500 from his/her checking account and holds it as currency, then M1 will ________ and M2 will ________
A) not change; increase B) not change; not change C) decrease; increase D) increase; decrease E) decrease: decrease